IMF Will Only Support a 'Comprehensive Program' for Lebanon, Says Georgieva

An anti-government demonstrator holds a Lebanese flag as she stands on top of her car, during a countrywide lockdown to combat coronavirus, in Beirut, Lebanon April 21, 2020. (Reuters)
An anti-government demonstrator holds a Lebanese flag as she stands on top of her car, during a countrywide lockdown to combat coronavirus, in Beirut, Lebanon April 21, 2020. (Reuters)
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IMF Will Only Support a 'Comprehensive Program' for Lebanon, Says Georgieva

An anti-government demonstrator holds a Lebanese flag as she stands on top of her car, during a countrywide lockdown to combat coronavirus, in Beirut, Lebanon April 21, 2020. (Reuters)
An anti-government demonstrator holds a Lebanese flag as she stands on top of her car, during a countrywide lockdown to combat coronavirus, in Beirut, Lebanon April 21, 2020. (Reuters)

IMF Managing Director Kristalina Georgieva said on Thursday the fund would only support a "comprehensive program" for Lebanon that would tackle all the country's ills, including corruption.

"Our team is working very closely with their Lebanese counterparts," Georgieva told reporters. "We are stressing that it has to be a comprehensive program."

Lebanese officials began talks with the IMF last month to pull the Middle Eastern country out of the worst economic crisis in its history, reported AFP.

Georgieva called Lebanon's circumstances "very, very dire," and said "it has been so for a long time, and short of a strong government commitment to change the course of the country, the suffering of the Lebanese people would continue."

She said the Washington-based crisis lender was negotiating over a budget proposal that would address Lebanon's banking sector and "reforms that the country needs including more transparency for what the government does."

Lebanon defaulted on its sovereign debt in 2020, a first in its history.

Its currency has lost about 90 percent of its value on the black market and four out of five Lebanese now live below the poverty line, according to the United Nations, a situation made worse by triple-digit inflation.

Despite the economic collapse, the country's ruling class has blocked reforms that foreign donors say must happen before aid is dispensed.



Israeli Military: 5 Soldiers Killed in Combat in South Lebanon

Israeli Iron Dome air defense system fires to intercept rockets that were launched from Lebanon, as seen from Haifa, northern Israel, Thursday, Nov. 7, 2024. (AP Photo/Francisco Seco)
Israeli Iron Dome air defense system fires to intercept rockets that were launched from Lebanon, as seen from Haifa, northern Israel, Thursday, Nov. 7, 2024. (AP Photo/Francisco Seco)
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Israeli Military: 5 Soldiers Killed in Combat in South Lebanon

Israeli Iron Dome air defense system fires to intercept rockets that were launched from Lebanon, as seen from Haifa, northern Israel, Thursday, Nov. 7, 2024. (AP Photo/Francisco Seco)
Israeli Iron Dome air defense system fires to intercept rockets that were launched from Lebanon, as seen from Haifa, northern Israel, Thursday, Nov. 7, 2024. (AP Photo/Francisco Seco)

Five Israeli soldiers were killed and 16 others wounded in combat in southern Lebanon in recent weeks, the Israeli military said in a statement on Thursday.

Hezbollah leader Naim Kassem said in a speech aired Wednesday that the Lebanese group is open for ceasefire negotiations only once “the enemy stops its aggression.”

His speech marked the 40-day mourning period since former Hezbollah chief Hassan Nasrallah was assassinated in Beirut.

Hezbollah began firing into Israel on Oct. 8, 2023, in solidarity with Hamas in the Gaza Strip. Since the conflict erupted, more than 3,000 people have been killed and some 13,600 wounded in Lebanon, the Health Ministry reported.